Tony Abbott to form govt in Australia after thumping victory

Australia’s Conservative challenger Tony Abbott was swept to power today with a thumping mandate for his coalition in national polls, as Prime Minister Kevin Rudd conceded defeat, ending Labor Party’s six-year rule.

With 88 per cent of the vote counted, the Australian Electoral Commission said Abbott’s Liberal/National coalition was heading for a landslide win, leading in 89 seats in the 150—strong House of Representatives, to Labor’s 56.

“I declare that Australia is under new management and is once again open for business,” 55—year—old Abbott told cheering supporters in Sydney.

The Prime Minister—elect said that in a “week or so” Governor—General Quentin Bryce would swear in the new government.

The dramatic change of fortune for 55—year—old Rudd came months after he ousted Julia Gillard as Prime Minister and Labor leader.

Rudd had called for elections after defeating Gillard in a leadership challenge in June, amid dismal polling figures that showed Labor on course for a wipe—out.